Bullish break - Good risk/reward for Long

The beaten NOK has quite some room to correct, even if it can't reverse strategic bullish for some more time.

Weekly:
- The big picture is bearish , but price retested Kijun during last few weeks. It turned down again 3 weeks ago, but failed to continue bearish and to deliver a lower low.
- Heikin-Ashi turned bullish again, with anouther attempt to cross back above Kijun. haDelta/SMA3 crosses up. haDelt has been building positive divergence for almost a year now!
- EWO is bearish , but value is moving higher.
- Bearish supports and possible retracement levels are: 1,0251 and 1,0420

Daily:
- Initial break above Kumo failed, and price dipped again. However price coudl not make a lower low, instead developed a small bullishtrendline . Last friday price attempted another bullish break above Kumo and Kijun Sen. I called my Twitter followers attention for this.
- Heikin-Ashi made a strong bullish reversal from the Kumo cloud, with high momentum. haDelta/SMA3 crosses up and moves above zero line. HA Oscillator switched to bullish .
- EWO back to neutral.

Try to accumulate long in 0,9840-0,9910 area, with initial stop ard 0,9715. Initial target is 1,0250-1,03.

Related Ideas

Slow??? It is always different. When there is sideaway, they are slow. But looking at EURUSD it has been slow for couple of days too.
Look at May-October/2015 price action. It was no slow, but heavy and agressive.

nothing special. same as any other crosses, or instruments. You play one against the other. I don't say easier to predict, maybe even more difficult to hold positions as they can be less liquid and more volatile than majors.